TIDMNESF
RNS Number : 1953L
NextEnergy Solar Fund Limited
03 January 2023
LEI: 213800ZPHCBDDSQH5447
3 January 2023
NextEnergy Solar Fund Limited
("NESF" or the "Company")
Total Voting Rights
In accordance with the FCA's Disclosure Guidance and
Transparency Rule 5.6.1R, the Company would like to notify the
market that as at 31 December 2022 its total issued share capital
consists of 589,944,863 Ordinary Shares, each with equal voting
rights.
The Company does not hold any Ordinary Shares in Treasury.
Therefore, the total number of voting rights in the Company is
589,944,863 . Shareholders should use this number as the
denominator for the calculations by which they will determine
whether they are required to notify their interest, or a change to
their interest, in the Company under the FCA's Disclosure Guidance
and Transparency Rules.
For further information:
NextEnergy Capital Group 020 3746 0700
Michael Bonte-Friedheim ir@nextenergysolarfund.com
Ross Grier
Aldo Beolchini
Peter Hamid (Investor Relations)
RBC Capital Markets 020 7653 4000
Matthew Coakes
Kathryn Deegan
Cenkos Securities 020 7397 8900
James King
William Talkington
Camarco 020 3781 8334
Owen Roberts
Eddie Livingstone-Learmonth
Ocorian Administration (Guernsey) Limited 014 8174 2642
Kevin Smith
Notes to Editors(1) :
About NextEnergy Solar Fund
NESF is a specialist solar and energy storage climate impact
fund. The Company is structured as a renewable energy investment
company listed on the premium segment of the London Stock Exchange
that invests in utility-scale solar power plants and energy
storage. The Company may invest up to 30% of its gross asset value
in non-UK OECD countries, 15% in solar-focused private
infrastructure funds, and 10% in energy storage.
NESF currently has a diversified portfolio comprising of the
following:
Solar PV:
-- 99 operating solar assets across the UK and Italy (primarily
on agricultural, industrial, and commercial sites)
-- A 50MW co-investment into a Spanish solar project alongside
NextPower III ESG, currently under construction
-- A 210MW co-investment into a Portuguese solar project
alongside NextPower III ESG, currently under construction
-- A UK solar project under construction (Whitecross 36MW)
-- A ready-to-build UK solar project (Hatherden 50MW)
-- A $50m commitment into NextPower III ESG (a private solar
infrastructure fund providing exposure to both operating and under
construction, international solar assets)
Energy Storage:
Joint Venture Partnership with Eelpower:
-- A 50MW standalone battery storage project in Fife, Scotland,
currently under construction (part of a GBP300m joint venture with
Eelpower)
-- A portfolio of 250MW pre-construction standalone battery
storage projects in the East of England
Co-located programme:
-- First site identified for a 6MW co-located battery storage
project at North Norfolk Solar Farm and discussions are ongoing
with the local distribution network operator to confirm an
energisation date
The NESF portfolio has a combined installed power capacity of
865MW (excluding NextPower III MW on an equivalent look-through
basis).
As at 30 September 2022, the Company had an unaudited gross
asset value of GBP1,258m, being the aggregate of the net asset
value of the ordinary shares, the fair value of the preference
shares and the amount of NESF Group debt outstanding, and an
unaudited net asset value of GBP725m.
NESF's investment objective is to provide ordinary shareholders
with attractive risk-adjusted returns, principally in the form of
regular dividends, by investing in a diversified portfolio of solar
energy and energy storage infrastructure assets. The majority of
NESF's long-term cash flows are inflation-linked via UK government
subsidies.
For further information on NESF please visit www.
nextenergysolarfund.com
Commitment to ESG
NESF is committed to ESG principles and responsible investment
which make a meaningful contribution to reducing CO2 emissions
through the generation of clean solar power. NESF will only select
investments that meet the requirements of NEC Group's Sustainable
Investment Policy. Based on this policy, NESF benefits from NEC's
rigorous ESG due diligence on each investment. NESF is committed to
reporting on its ESG performance in accordance with the UN
Sustainable Development Goals framework and the EU Sustainable
Finance Disclosure Regulation.
NESF has been awarded the London Stock Exchange's Green Economy
Mark and has been designated a Guernsey Green Fund by the Guernsey
Financial Services Commission .
Article 9
NESF is classified under Article 9 of the EU Sustainable Finance
Disclosure Regulation and EU Taxonomy Regulation.
NESF's sustainability-related disclosures in the financial
services sector in accordance with Regulation (EU) 2019/2088 can be
accessed on the ESG section of both the NESF website (
nextenergysolarfund.com/esg/ ) & NEC Group website (
nextenergycapital.com/sustainability/transparency-and-reporting/
).
About NextEnergy Group
NESF is managed by NextEnergy Capital, part of the NextEnergy
Group. NextEnergy Group was founded in 2007 to become a leading
market participant in the international solar sector. Since its
inception, it has been active in the development, construction, and
ownership of solar assets across multiple jurisdictions. NextEnergy
Group operates via its three business units: NextEnergy Capital
(Investment Management), WiseEnergy (Operating Asset Management)
and Starlight (Asset Development).
NextEnergy Capital
NextEnergy Capital comprises the Group's investment management
activities. To date, NEC has invested in over 350 individual solar
plants for a capacity in excess of 2.4GW across it institutional
funds. www.nextenergycapital.com
-- NextEnergy Solar Fund ("NESF ") is a specialist solar and
energy storage climate impact fund, which is listed on the
premium segment of the London Stock Exchange. It currently
has an installed capacity of 865MW spread among 99 individual
operating assets in the UK and Italy, comprising an unaudited
gross asset value of GBP1,258m. NESF is one of the largest
listed solar and energy storage investment companies in the
world.
-- NextPower II ("NPII") a private fund made up of 105 individual
operating solar power plants and an installed capacity of
149MW, focused on consolidating the substantial, highly fragmented
Italian solar market. NPII was successfully divested in January
2022, a 2016 vintage vehicle that generated net IRRs in excess
of its gross target of 10-12%.
-- NextPower III ESG ("NPIII") is a private fund exclusively
focused on the international solar infrastructure sector,
principally targeting projects in carefully selected OECD
countries, including the US, Portugal, Spain, Chile, Poland,
and Italy. NPIII is a fund that provides a positive social
and environmental impact to the countries it has and will
invest into. NPIII completed its fundraise with a total of
$896m, including an SMA raised. The target of the fund was
$750m.
-- NextPower UK ESG ("NPUK") is a private unlevered fund investing
in greenfield subsidy-free solar projects, with PPA's, in
the UK. NPUK ESG is a 10-year closed-ended private fund launched
in December 2021 targeting GBP500m. To date, NPUK has raised
total commitments of GBP487m, with the UK Infrastructure
Bank providing cornerstone match-funding for up to GBP250m.
-- NextPower's latest strategy is expected to launch in early
2023, offering a strategy similar to NextEnergy Capital's
successful OECD solar fund, NPIII ESG. Given the growth trajectory
of solar globally, NextPower will look to capitalise on this
international opportunity set to deliver attractive, superior
risk-adjusted returns to its investors.
WiseEnergy
WiseEnergy(R) is NextEnergy Capital Group's operating asset
manager. WiseEnergy is a leading specialist operating asset manager
in the solar sector. Since its founding, WiseEnergy has provided
solar asset management, monitoring and technical due diligence
services to over 1,350 utility-scale solar power plants with an
installed capacity in excess of 1.8GW. WiseEnergy clients comprise
leading banks and equity financiers in the energy and
infrastructure sector.
www.wise-energy.com
Starlight
Starlight is NextEnergy Group's development company that is
active in the development phase of solar projects. It has developed
over 100 utility-scale projects internationally and continues to
progress a large pipeline of c.8.5GW of both green and brownfield
project developments across global geographies.
Notes:
(1:) All financial data is unaudited at 30 September 2022, being
the latest date in respect of which NESF has published financial
information
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